Many new financial innovations rely on people
choosing to give a company access to their digital financial records held by
another company. If you’re using these kinds of services, we’d love to hear
from you. Make your voice heard.

Lately, we’ve received questions from people wanting to know what these chips are and how they work. As a new federal agency, we’re committed to providing you with trustworthy information about consumer financial products—including bank accounts and credit cards. Here are a few things you should know about chip technology.

Tens of millions of consumers use financial products or services like credit cards and student loans that include pre-dispute arbitration clauses in their agreements. These clauses can require disputes be resolved through arbitration, rather than through the court system. Since 2012, we’ve being working on a study of arbitration provisions and report to Congress. Here’s what we learned and why it matters.

While virtual currencies offer the potential for innovation, a lot of big issues have yet to be resolved. You may have heard about virtual currencies like Bitcoin, XRP, and Dogecoin. But what are they and what risks should you be aware of? Check out our consumer advisory to learn more about virtual currencies.

Yesterday, we made a significant update to our proposed policy to encourage trial disclosure programs, which allow companies, on a trial basis, to test disclosures that may work better for consumers and companies. Data from the trial program would then help us determine if the proposed innovation works better than the status quo. We are inviting comments on Section A of the revised proposed policy, which describes the information companies should submit to us for their proposals. This comment process lasts 30 days, until July 18.

Thanks to your feedback and discussions with stakeholders, we’ve made some important revisions and clarifications to the proposed policy

As part of our effort to study the use of mandatory pre-dispute arbitration clauses in consumer financial contracts, today we are proposing to conduct a nationwide telephone survey of 1,000 credit card holders. In Section 1028 of the Dodd-Frank Act, Congress instructed us to complete a study about arbitration. We released a Request For Information […]